Market in a Minute

Market in a Minute & StatPak October 2018

We profile the most important market indicators every month - contract activity, interest rates, inventory, affordability and direction of the market - in an easy to read and digest summary. It's not just the numbers; it provides context to understand why the numbers are important and what they mean for the future of the market. Published for Northern Virginia, Loudoun County, Washington, DC, Montgomery County and Prince George’s County.

A quick summary of last month's contract activity is shown below. To see the complete "Market in a Minute" reports for each jurisdiction we cover, click on the corresponding links.

What's The URGENCY Index?

This is simply the measure of the percentage of homes going under contract that were on the market 30 days or less, giving a sense of how quickly buyers feel they must act to put an offer on a home. To see your market's Urgency Index click the link to view the full report.

Northern Virginia - October 2018 StatPak with Contract Snapshot from September 2018

CONTRACTS:Contract activity in September 2018 was down 5.8% from September 2017 and was down for four of the six price categories. Through the first eight months of the year contract activity is down 2.6%. The average number of days on the market for homes receiving contracts was 43 days in September 2018, down slightly from 44 days in September of last year.

Loudoun County - October 2018 StatPak with Contract Snapshot from September 2018

CONTRACTS:Contract activity in September 2018 was down 12.8% from last September, and was down in four of the six price categories. Through the first nine months of the year, contract activity is down 1.0%. The average number of days on the market for homes receiving contracts was 42 days in September 2018, up just one day from 41 days in September of last year.

Montgomery County - October 2018 StatPak with Contract Snapshot from September 2018

CONTRACTS:Contract activity in September 2018 was down 15.8% from September 2017 and was down in four of the six price categories. Through the first nine months of the year, contract activity is down 3.3%. The average number of days on the market for homes receiving contracts was 45 days in September 2018, down from 48 days in September of last year.

Prince George's County - October 2018 StatPak with Contract Snapshot from September 2018

CONTRACTS:Contract activity in September 2018 was down 1.9% from September 2017, but through the first nine months of the year contract activity is up 15.2%, the best in the metro area. The average number of days on the market for homes receiving contracts was 45 days in September 2018, up from 40 days this time last year.

Washington, DC - October 2018 StatPak with Contract Snapshot from September 2018

CONTRACTS:Contract activity in September 2018 was down 6.0% from September 2017, but actually increased in two of the six price categories. Through the first nine months of the year contract activity is down 1.4%. The average number of days on the market for homes receiving contracts was 34 days in September 2018, up from 32 days in September of last year.